Wearing pinstripe blazers, yellow sundresses and donning oversized cigarette holders, 25 environmental activists posed as billionaires from the fossil fuel industry in a comical protest at Citibank’s headquarters in New York City April 1. The New York City Police Department (NYPD) arrested two individuals after they locked themselves to the front door of the building with bicycle locks and refused to leave.
“Coal has lost its appeal as a predictable investment; it is fraught with uncertainty” said Billionaire, Lauren Valle, while chained the front doors of Citibank’s offices in Midtown Manhattan. “Bottom-line, Citi is mortgaging our future and compromising their own long-term competitiveness.”
Organized by the Rainforest Action Network (RAN), the demonstration against Citibank was one of more than 150 actions and street performances staged across the world April 1 as part of Fossil Fools day, an environmental day of remembrance and action, organized by International Rising Tide Network and the Energy Action Coalition, dedicated to public pranks and humorous protest against the fossil fuel industry.
“Coal keeps burning and we keep earning,” Valle and John Watterberg shouted while locked to the doors. “Free our profits,” chanted others wearing homemade oversized top hats, designed to look like coal smoke stacks.
Humor was going to be a central element of the protest since the initial planning for it began in January. “Using theater and humor helps you build more sympathy from those not invested in the issue. It makes regular people feel like you’re not brow beating them,” said Scott Parkin, a RAN organizer who helped plan the event.
The protestors said they targeted Citibank for its socially irresponsible investment strategy, which includes funding environmentally damaging industries. “Citi not only is heavily invested in big coal, but it is also paid by the coal and utilities industries to encourage other banks to invest as well,” Parkin said.
Citi was the largest underwriter of the coal industry in the world in 2006, according to Bloomberg News. Its investments in companies such as Peabody Energy and Arch Coal funded the toxification of large swaths of rural Arizona and the devastation of Appalachian forests and mountains by mountain-top removal coal mining.
Top U.S. climate scientist, NASA's James Hansen, believes the coal industry’s practice will lead to long-term environmental damage. Mr. Hansen called for a moratorium on new coal-fired power plants in late February 2007, stressing that their large amounts of greenhouse gas emissions are a leading contributor to global warming. Large banking institutions are being challenged for their financial role in the more than 100 new coal-powered power plants that are currently in the planning works.
Citi’s persistent funding of the coal industry contradicts its public commitment to the equator principles, a set of social and environmental benchmarks set by other leaders of the financial industry.
But the protestor’s goal was not simply to force Citi to abide by the Equator Principles. “Our foal is to get Citi to divest from the coal industry completely,” Parkin said.
Toward this end, RAN is trying to raise awareness of Citi’s irresponsible investment pattern through a combination of public protest, social theater and humor.
Bystanders appreciated the protests light tone couples with a serious message. “I’m definitely for making fun of billionaires,” said Vinny from Staten Island. “It’s clever,” added Calvin Harris, a Manhattan resident.
The protestors applauded the arrival of the police with a polite golf clap and a healthy round of “huzzahs.” Billionaires Valle and Watterberg, the two protestors chained to the front doors exhaled loud sighs of relief. “Thank goodness,” they said, “We worried you’d never come to cut us out. We’re expected at the country club at 4pm. “
PHOTOS: THOMAS MARCZEWSKI
For more information:
Fossil Fool's Day Website - www.fossilfoolsdayofaction.org
Rising Tide North America - www.risingtidenorthamerica.org
Rainforest Action Network - www.ran.org
“Coal has lost its appeal as a predictable investment; it is fraught with uncertainty” said Billionaire, Lauren Valle, while chained the front doors of Citibank’s offices in Midtown Manhattan. “Bottom-line, Citi is mortgaging our future and compromising their own long-term competitiveness.”
Organized by the Rainforest Action Network (RAN), the demonstration against Citibank was one of more than 150 actions and street performances staged across the world April 1 as part of Fossil Fools day, an environmental day of remembrance and action, organized by International Rising Tide Network and the Energy Action Coalition, dedicated to public pranks and humorous protest against the fossil fuel industry.
“Coal keeps burning and we keep earning,” Valle and John Watterberg shouted while locked to the doors. “Free our profits,” chanted others wearing homemade oversized top hats, designed to look like coal smoke stacks.
Humor was going to be a central element of the protest since the initial planning for it began in January. “Using theater and humor helps you build more sympathy from those not invested in the issue. It makes regular people feel like you’re not brow beating them,” said Scott Parkin, a RAN organizer who helped plan the event.
The protestors said they targeted Citibank for its socially irresponsible investment strategy, which includes funding environmentally damaging industries. “Citi not only is heavily invested in big coal, but it is also paid by the coal and utilities industries to encourage other banks to invest as well,” Parkin said.
Citi was the largest underwriter of the coal industry in the world in 2006, according to Bloomberg News. Its investments in companies such as Peabody Energy and Arch Coal funded the toxification of large swaths of rural Arizona and the devastation of Appalachian forests and mountains by mountain-top removal coal mining.
Top U.S. climate scientist, NASA's James Hansen, believes the coal industry’s practice will lead to long-term environmental damage. Mr. Hansen called for a moratorium on new coal-fired power plants in late February 2007, stressing that their large amounts of greenhouse gas emissions are a leading contributor to global warming. Large banking institutions are being challenged for their financial role in the more than 100 new coal-powered power plants that are currently in the planning works.
Citi’s persistent funding of the coal industry contradicts its public commitment to the equator principles, a set of social and environmental benchmarks set by other leaders of the financial industry.
But the protestor’s goal was not simply to force Citi to abide by the Equator Principles. “Our foal is to get Citi to divest from the coal industry completely,” Parkin said.
Toward this end, RAN is trying to raise awareness of Citi’s irresponsible investment pattern through a combination of public protest, social theater and humor.
Bystanders appreciated the protests light tone couples with a serious message. “I’m definitely for making fun of billionaires,” said Vinny from Staten Island. “It’s clever,” added Calvin Harris, a Manhattan resident.
The protestors applauded the arrival of the police with a polite golf clap and a healthy round of “huzzahs.” Billionaires Valle and Watterberg, the two protestors chained to the front doors exhaled loud sighs of relief. “Thank goodness,” they said, “We worried you’d never come to cut us out. We’re expected at the country club at 4pm. “
PHOTOS: THOMAS MARCZEWSKI
For more information:
Fossil Fool's Day Website - www.fossilfoolsdayofaction.org
Rising Tide North America - www.risingtidenorthamerica.org
Rainforest Action Network - www.ran.org
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